East Vancouver Townhouse Market Update – October 2016

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I bet the townhouse market under and up to $800k or so will remain busy through the Fall, though we’ll still see the low inventory numbers we’ve been seeing all year. I think we’ll see a few more “subject” offers, and thanks to the a Buyer’s Market when it comes to detached houses, we’ll see quite a few Buyers make the jump from a townhouse to a detached house, opening up some new inventory for Buyers looking to jump from condos to townhouses.

Average Sales Price:

The current average sales price is $905,000, and this graph breaks down the averages given the number of bedrooms.

Sales to Active Ratio:

Based on the sales to active ratios for condos, this market is still in demand, there are so few 1 bedroom townhouses that the number didn’t register this month.

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I expect the lower end of this market to remain busy, because of the limited inventory available in the city and the livability of townhouses. I was happy to see the Grandview Community Plan allow for more duplexes and townhouses, but it will be quite a while before they come to fruition.

Don’t hesitate to contact us if you have any questions about townhouses in East Vancouver.